OC011 - Money - Open Cloze

Gap-fill exercise

Read the text below and think of a word which best fits each space. Use only one word in each space !


There is no doubt that money, in the form that we know it today, what keeps modern economic life functioning. But, throughout history, money, in whatever form, has provided people the ability to buy sell goods.

Thousands of years , civilisations to rely on the barter system as a method of exchanging goods. Within this system a person had to exchange one thing for . This meant that the two parties involved had to an agreement as to what they thought their products were worth. Items such wheat, tobacco and cocoa beans have been used as money at one time or another. It was not until much later that people came up the idea of money in the form of metal coins .

So why did the barter system to an end? Coins were much easier to handle and carry around. then, the use of coins has become widespread. It has made business and trading simpler and has given countries an opportunity of development by business with other countries.

In recent years, paper money has become more common all the world,as it is easier to use. It not be long, however, before plastic cards take over completely, replacing coins and paper money.